Samsung Electronics Co., the world's leading maker of smartphones and memory chips, said Tuesday its brand value was ranked fifth in the world this year for the first time.

Samsung moved up to fifth most-valuable global brand this year with a record value of $62.3 billion, up 2 percent from last year's $61.1 billion, according to Interbrand's latest top 100 best global brands list.

This is the first time Samsung ascended to the list of the global top five after initial evaluation of its brand value began in 2000. Samsung is also the first South Korean company to achieve the feat.

Samsung entered the top 10 of Interbrand's list in 2012.

Interbrand evaluates the brand value of businesses based on its comprehensive analysis of multiple factors, including financial performance, brand influence on purchases and brand competitiveness.

US tech titans swept the top four spots in Interbrand's best brand rankings for 2020. Apple topped the list at $323 billion, followed by Amazon, Microsoft and Google.

Samsung said its quick response to the COVID-19 pandemic with global activities for corporate social responsibility, companywide programs for sustainable development, continuous launching of innovative products and consistent investment into advanced technologies led to the growth of its brand value. (Yonhap)